Explore the latest industry news, insightful data, and exciting updates from CoinMarketCap.
͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
And the crypto chaos continues… Just when we thought things couldn't go worse, Grayscale decided to withdraw its application for an Ethereum futures ETF. And you can probably guess what happened next. Ethereum traders started hitting the exchanges, selling off their holdings and painting ETH's charts with a crimson hue. And then we had the people at Visa to pour some cold, hard facts on the stablecoin craze. Apparently, 90% of that celebrated stablecoin trading volume isn't real people moving money. So let's shed some light on these stories and other major developments happening in crypto. Here is a TLDR of today's top headlines: |
- Visa: 90% of stablecoin volume is just bots trading. Who's really behind this inflated hype? 🤖
- Ethena partners with Bybit to offer USDe trading. What's in it for USDe holders? 🥹
- Solana outpaces BTC and ETH with 20% gains. What's driving this surge in SOL's price? 😍
- Starknet launches $5M grant program to boost development. Will we see more projects shifting to Starknet now? 🤔
- Revolut UK launches zero-fee crypto trading platform. How much capital are we expecting to enter the crypto market? 💳
|
Let's dive into each of these stories! |
|
| | GLOBAL MARKET CAP | | $2.29T | | ▼3.15% (24h) | | | 24H MARKET VOLUME | | $63.56B | | ▼11.05% (24h) | | |
| | BITCOIN'S DOMINANCE | | 53.56% | | ▲0.16% (24h) | | | FEAR & GREED INDEX | | 55 | | Neutral | | |
|
|
 | Bitcoin | | | $62,288.96 | | ▼2.83% (24h) | |
|  | Ethereum | | | $2,989.59 | | ▼3.65% (24h) | |
|  | BNB | | | $584.04 | | ▼2.38% (24h) | |
|
|
Data as of: 08 May 2024 11:20 UTC |
|
|
 | TOP GAINERS | 24H% | | | | | | | | |
|  | TOP LOSERS | 24H% | | | | | | | | |
|
|
Ethena Partners With Bybit |
A new partnership between Ethena and Bybit is opening up an array of fresh yield-chasing playgrounds. The two firms just inked a high-profile integration that'll see Ethena's USDe stablecoin accepted as legitimate collateral for trading any of Bybit's massively popular perpetual futures contracts. But the collaboration runs deeper than just okaying USDe as collateral. Bybit is going full-service by also listing spot trading pairs for both Bitcoin and Ethereum quoted against USDe too. This partnership is also offering incentives to USDe holders. Read the full story! |
|
|
While Bitcoin and Ethereum are busy moving sideways, a certain high-speed blockchain is leading the charge this week. We're talking about Solana, of course, which has been making big moves over the past 7 days - racking up gains of over 20% and outpacing the meager 4% and 2% rises mustered by BTC and ETH respectively. But what's fueling this Solana ride? And is any other coin experiencing similar growth? Read the full story! |
|
|
Starknet's $5M Grant Program |
The Ethereum scaling solution just lit another match under its ecosystem with the launch of a generous $5 million grant program. Dubbed the "Seed Grants," this new capital deployment aims to shower at least 200 promising Starknet projects in seed funding. The goal? Giving those upstart teams the financial runway to get their minimum viable products over the hump and fully deployed on Starknet's ZK-rollup. It's definitely a smart move from Starknet's money brains to double down on reducing barriers and inviting more fresh development talent. After all, the network has already witnessed a blistering 113% explosion in dev activity over the past three years according to Electric Capital's latest report. Will we see more projects shifting to Starknet now? Read the full story! |
|
|
Create Alerts for Your Favorite Coins with Watchlist
|
| |
| Did you know you can automatically monitor the crypto market's ups and downs? Create an account to set up personalized alerts on your Watchlist and track your favorite cryptocurrencies efficiently. |
Stay ahead of market trends without constant checking. | |
|
Revolut UK Jumps Into Crypto Trading |
Across the pond in the UK markets, Revolut has just announced a new zero-fee crypto platform called Revolut X. Launching initially for UK retail customers, the specialized hub will enable trading across over 100 digital assets like Bitcoin, Ether and XRP to kick things off. It promises seamless fiat on-and-off ramps between the Revolut X platform and users' traditional bank accounts - a crucial bridging utility. It's an aggressive customer acquisition play by the former money transfer app-turned $40 million fintech giant. And one that aligns perfectly with Revolut's crypto reboot after scaling back offerings years ago amidst regulatory headaches. Has this app already launched? How much capital injection are we expecting from this new product? Read the full story! |
|
|
Visa Calls out the Stablecoin Hype |
In the escalating battle to cut through crypto's hype cycles, payments titan Visa is taking some serious swings at stablecoins' oft-celebrated transaction volumes. Working alongside Allium, Visa just revealed new dashboards aiming to quantify the real human involvement underpinning stablecoin transaction figures. And according to their analysis, a staggering 90% of the headline numbers are essentially meaningless automated bot activity. The data doesn't lie either - Visa's receipts indicate that of the $51.6 billion in raw stablecoin transactions tracked on May 5th alone, a mere $4.6 billion actually involved explicit human initiation after stripping out all the machine-driven noise. So who is involved in pumping stablecoin transaction volumes and why? Read the full story! |
|
|
And that's a wrap. We will be back with more updates! |
|
|
DISCLAIMER: Please be aware that CoinMarketCap is NOT a cryptocurrency exchange and does NOT facilitate the buying, selling, withdrawal or trading of crypto/token assets. The Portfolio feature is for tracking purposes only and does NOT act as a cryptocurrency wallet. |
You were sent this email because you subscribed to CoinMarketCap. To update your email preferences, click here. To unsubscribe from all CoinMarketCap emails, click here. | © 2024 CoinMarketCap OpCo LLC
8 The Green, STE 6703, Dover, Delaware 19901, United States |
|
|
|
|
|
|
|
0 Yorumlar